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Louisiana law exam questions and answers latest updated
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Louisiana law exam questions andanswers latest updated
in Louisiana, the insurance commissioner is elected for a term of - Answer-4 years
Every insurer doing business in Louisiana must be examined at least once every -
Answer-5 years
An applicant for a resident insurance producer license in Louisiana must be at least -
Answer-18 years old
A resident producer who moves from Louisiana to another state must file a change of
address and provide certification from the new resident state within how many days of
the change of legal resident? - Answer-30
the commissioner may issue a temporary insurance producer license without requiring
an examination for up to how many days? - Answer-180
a licensed producer must file an application for renewal of the license every - Answer-2
years
for a producer who is licensed to write both life and property insurance, the continuing
education requirement is ________ hours with _____ of these hours in ethnics during
each renewal period. - Answer-24; 3
for a producer who is licensed to write property or casualty insurance, the continuing
education requirement is how many hours of credit during each renewal period? -
Answer-24
offering to give a prospect anything of value not specified in the contract to persuade
the prospect to purchase the insurance is known as - Answer-rebating
twisting - Answer-the illegal replacement practice of misrepresenting a policy to include
a policyholder to lapse, forfeit, or surrender an existing policy and purchase a new
policy from a DIFFERENT insurer.
churning - Answer-the illegal replacement practice of misrepresenting a policy to include
a policyholder to lapse, forfeit, or surrender an existing policy and purchase a new
policy from a SAME insurer.
coercion - Answer-forcing a person to buy insurance through a particular company or
producer.
, rebating - Answer-offering valuable consideration, other than that which is offered in the
contract, as an inducement to purchase a policy is illegal.
-includes kickbacks of commission, extraordinary gifts, payment of consulting fees, or
offering to pay the insured's premium.
The commissioner may do all of the following except:
A) rewrite insurance laws at any time
B) issue cease and desist orders
C) issue certificates of authority and licenses
D) examine books and records of companies and individuals - Answer-A) rewrite
insurance laws at any time
if a person engages in an unfair trade practice, the commissioner must - Answer-hold a
hearing and order the person to cease and detest from engaging in the unfair practice.
An insurance producer whose license has lapsed would need to take an examination to
reinstate the license if the lapse is more than - Answer-2 years
a license will be considered used primarily for writing controlled business if the total
commissions earned from the controlled business exceed what percentage of the
commissions earned on all business written by the license during any 12-month period?
- Answer-25%
A person who violates a CEASE and DESIST order of the commissioner may be fined
up to how much for each violation? - Answer-$25,000
A person who commits a fraudulent insurance act may be fined up to $5,000 and/or
imprisoned for up to how may years? - Answer-5
a producer who believes that a fraudulent insurance claim is being made must file a
form notice with the insurance fraud division within how many days? - Answer-60
the commissioner may issue a temporary insurance producer license to any of the
following except:
A) a surviving spouse
B) a designee by a retired producer
C) a designee of a licensed producer entering active service in the US armed forces
D) a court-appointed representative of a producer who become physically disabled. -
Answer-B) a designee by a retired producer
Any license who fails to file a timely application for license renewal will be charged a
late fee of - Answer-$50
If an insurance producer continues to use a nonapproved trade name for 10 or more
days after being notified by the commissioner to cease, the producer is subject to a fine
of - Answer-$5,000
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